Grocery Outlet (NASDAQ:GO) Given "Market Perform" Rating at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO - Get Free Report)'s stock had its "market perform" rating reiterated by Telsey Advisory Group in a report issued on Thursday,Benzinga reports. They presently have a $18.00 target price on the stock. Telsey Advisory Group's target price indicates a potential upside of 8.43% from the company's current price.

Several other research firms have also issued reports on GO. Craig Hallum lowered their price target on Grocery Outlet from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company cut their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. Roth Mkm decreased their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on Grocery Outlet from $17.00 to $15.00 and set a "sell" rating for the company in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Grocery Outlet from $29.00 to $26.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet currently has an average rating of "Hold" and a consensus price target of $18.00.

Grocery Outlet Stock Up 0.4 %

Grocery Outlet stock traded up $0.06 on Thursday, hitting $16.60. 1,502,795 shares of the stock traded hands, compared to its average volume of 1,832,861. The business's fifty day simple moving average is $17.84 and its 200 day simple moving average is $18.77. The firm has a market cap of $1.61 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.19.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. Grocery Outlet's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, sell-side analysts forecast that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Activity at Grocery Outlet

In other news, Director Erik D. Ragatz bought 110,000 shares of the firm's stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Grocery Outlet

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock valued at $29,000 after acquiring an additional 722 shares during the period. Capital Performance Advisors LLP bought a new stake in Grocery Outlet during the 3rd quarter valued at approximately $32,000. Innealta Capital LLC bought a new stake in Grocery Outlet during the 2nd quarter valued at approximately $38,000. True Wealth Design LLC bought a new position in Grocery Outlet in the 3rd quarter worth approximately $75,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Grocery Outlet during the 2nd quarter valued at approximately $82,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.